Singapore’s economy delivered stronger-than-expected growth in the second quarter of 2026, prompting the government to significantly raise its full-year GDP forecast as booming global demand for artificial intelligence-related products supported manufacturing, exports and trade. The latest performance brought economic growth for the first half of 2026 to 6.1% compared with the same period a year earlier. Wholesale trade also recorded solid growth of 8.3%, benefiting from resilient external demand and stronger trade flows. The broad-based gains highlight the strength of several key industries despite uncertainties surrounding the global economic environment. Following the stronger first-half performance, MTI sharply upgraded its Singapore GDP growth forecast for 2026 to 4.5%-5.5%, compared with its previous projection of 2%-4%.